GAN trading at record levels
News on 20 Nov 2018
News on 20 Nov 2018
GAN plc, in its latest trading update, revealed record levels driven by strong growth in US sports betting.
Quarterly key performance indicators for the second and third quarters of 2018 highlight the continuation of strong momentum with the Company trading at record levels in Q3 2018.
Gross operator revenue reached $26.7 million in the third quarter 2018 (Q3/2017: $19.1 million), up 40.1 percent y-o-y and 11.3 percent compared to Q2/2018.
An 8.6 percent quarter-on-quarter growth in Active Player Days registered 3,402,065.
Significant growth in the New Jersey market during Q3/2018 driven by the launch of Ocean Resort Casino, GAN’s second New Jersey client.
Dermot Smurfit, CEO of GAN commented:
“GAN traded at record levels during these past two quarters with significant growth in Q3 driven by the launch of our second New Jersey client of regulated gaming accelerated by the first month of US Internet sports betting in September.
“The new Key Performance Indicator ‘Gross Operator Revenue’ identifies the GAN-enabled revenues delivered to our clients operating their Simulated Gaming and/or Regulated Gambling business on our technology Platform, in which GAN participates.”
